A ban on imports of Russian diamonds is expected to be agreed by G7 nations in the next two or three weeks, a Belgian official said Friday, APA reports citing BNNBloomberg.
The mechanism will consist of a direct ban on purchases, which would take effect on Jan. 1, as well as an indirect ban, which would kick in more gradually, the official added.
The G-7 still needs to sort out technical details of the diamond ban, and then the European Union can develop its sanctions regulation in the fall, the official said. The plan is to ban purchases of rough or polished diamonds, whether directly from Russian giant Alrosa PJSC or from re-sellers in India or the United Arab Emirates.
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